Aaron Wealth Advisors LLC Reduces Stake in The Progressive Co. (NYSE:PGR)

Aaron Wealth Advisors LLC lowered its stake in shares of The Progressive Co. (NYSE:PGR) by 1.2% in the 4th quarter, HoldingsChannel reports. The firm owned 6,746 shares of the insurance provider’s stock after selling 82 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Progressive were worth $1,616,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Davis Capital Management bought a new position in Progressive during the third quarter valued at $25,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after buying an additional 73 shares during the last quarter. Kimelman & Baird LLC bought a new position in shares of Progressive during the 2nd quarter worth $36,000. Friedenthal Financial bought a new position in shares of Progressive during the 3rd quarter worth $49,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Progressive in the 3rd quarter worth about $49,000. Institutional investors own 85.34% of the company’s stock.

Progressive Trading Down 0.7 %

Shares of PGR stock opened at $243.79 on Friday. The business has a 50-day moving average of $250.18 and a 200 day moving average of $242.27. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The Progressive Co. has a 1-year low of $166.92 and a 1-year high of $270.62. The stock has a market capitalization of $142.82 billion, a PE ratio of 17.72, a P/E/G ratio of 0.61 and a beta of 0.41.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PGR shares. JPMorgan Chase & Co. increased their target price on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Wells Fargo & Company lifted their price objective on shares of Progressive from $299.00 to $302.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Progressive in a report on Friday, December 13th. Bank of America raised their price target on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, BMO Capital Markets decreased their price objective on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $275.24.

Insider Transactions at Progressive

In other Progressive news, insider Andrew J. Quigg sold 681 shares of Progressive stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the sale, the insider now directly owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $238.66, for a total value of $2,386,600.00. Following the transaction, the chief financial officer now owns 282,958 shares in the company, valued at $67,530,756.28. This trade represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,919 shares of company stock worth $8,222,168. Insiders own 0.34% of the company’s stock.

Progressive Company Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.